Money Scams: Insights and Solutions

Money Scams: Insights and Solutions. Older adults are vulnerable to various scams, including fraudulent calls, emails, and door-to-door schemes. Scammers often exploit their trust, targeting savings, personal information, or even posing as family members in distress. Common scams involve fake lottery winnings or requests for financial assistance. Educating older adults about these risks, promoting skepticism towards unsolicited communications, and establishing communication channels for verifying requests are essential in safeguarding them from falling victim to financial exploitation and identity theft. Older adults are particularly vulnerable to scams. Various investment scams tend to cause the most significant losses for seniors, averaging $17,172 stolen per senior aged 70 to 79. Another high-cost scam for seniors (mainly those 80 or over) is a romance scam, resulting in $10,000 lost per person. Back with us today are Mike & Kim Barnes of Parenting Aging Parents. If you missed their first episode with me, Balancing It All, be sure to listen to that one next. Kim has had to find solutions to prevent her Mom from being scammed again. Scams are a topic I haven't covered before, and we all must understand how to minimize and protect our families from financial losses due to scams. Find Mike & Kim here www.raisingagingparents.com ++++++++++++++++++++++++++++++++++++++++ Related Episodes: Money & Financial Warnings Signs for Elderly Future Security: Money & l Elder Abuse with Expert Advice ++++++++++++++++++++++++++++++++++++++++ Sign Up for more Advice & Wisdom - email newsletter. ++++++++++++++++++++++++++++++++++++++++ Please Support Our Sponsors So We Can Continue To Bring The Show to You For Free ++++++++++++++++++++++++++++++++++++++++ Make Your Brain Span Match Your LifeSpan Relevate from NeuroReserve With Relevate nutritional supplement, you get science-backed nutrition to help protect your brain power today and for years to come. You deserve a brain span that lasts as long as your lifespan. ++++++++++++++++++++++++++++++++++++++++ Please help us keep our show going by supporting our sponsors. Thank you. Stop 100% of Unwanted Calls with imp. Did you know people with Alzheimer's can receive nearly 200 spam calls a week? You can put a stop to those now. ++++++++++++++++++++++++++++++++++++++++ Join Fading Memories On Social Media! If you've enjoyed this episode, please share this podcast with other caregivers! You'll find us on social media at the following links. Instagram Twitter LinkedIn Facebook Contact Jen at [email protected] or Visit us at www.FadingMemoriesPodcast.com